Investments (Tables)

12 Months Ended

Dec. 31, 2018

Investments Debt And Equity Securities [Abstract]

Summary of Investments

Investments are as follows (in millions):

	December 31, 2018
Partnership interests in private equity funds	$	102.1
Marketable equity securities		32.6
Non-marketable equity securities		45.0
Seed capital investments		10.3
Other investments		0.5
Total investments	$	190.5

Schedule of Realized and Unrealized Gains and Losses on Investments

Realized and unrealized gains and losses for our equity securities are as follows (in millions):

	Year Ended December 31,
	2018
Unrealized losses on equity securities held as of the end of the period	$	(4.5	)
Realized gains for equity securities sold during the period		0.9
Total losses recognized in other income, net	$	(3.6	)

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table present assets and liabilities measured at fair value on a recurring basis (in millions):

				Fair Value Measurements at Reporting Date Using
	December 31, 2018			Quoted prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Money market funds (1)	$	558.0		$	558.0		$	—		$	—
Marketable equity securities (2)		32.6			32.6			—			—
Seed capital investments (2)		10.3			10.3			—			—
Deferred compensation liabilities (3)		(23.3	)		(23.3	)		—			—
Derivative instruments (4)		(0.3	)		—			(0.3	)		—
Total	$	577.3		$	577.6		$	(0.3	)	$	—

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(1) Included in Cash and cash equivalents and Funds receivable and funds held on behalf of clients on the Consolidated Balance Sheet.

(2) Included in Investments on the Consolidated Balance Sheet.

(3) Included in Other long-term liabilities on the Consolidated Balance Sheet.

(4) Included in Other accrued expenses on the Consolidated Balance Sheet.